According to media quotes of people familiar with the matter, Chinese electric car manufacturer idealThe car told potential investors that it planned to price the Hong Kong-listed IPO at HK $118 a share, raising about $1.5 billion.

The price is higher than that of Li Auto Inc. on Nasdaq on Thursday.There is a discount of about 3.2% at the closing price. One American depositary share is equal to two common shares. The carmaker will issue 100 million shares in its Hong Kong listing.

People who spoke on condition of anonymity said the pricing had not yet been finalized because discussions were still under way. A representative of the company did not immediately respond to a request for comment.

Li Auto Inc., which is already listed in the United States, will become the second Chinese electric vehicle manufacturer to make a secondary listing in Hong Kong. Earlier, XPeng Inc., a larger competitor, raised $1.8 billion in a secondary listing in Hong Kong in June.

Li Auto Inc. will be listed in Hong Kong on August 12. Goldman Sachs GroupThe Group and China International Capital Corporation are the co-sponsors of the company's listing in Hong Kong, UBSThe group is its financial adviser.